In cross-border legal transactions, players often encounter the problem that national commercial register data is difficult to compare. The lack of reliable register information in some member states also leads to a time-consuming information procurement process and inevitably drives up costs.
The European Commission responded to this problem back in March 2023 with a proposal for a Digitalization Directive II, which is intended to further develop digitalization in company law (“Commission draft”). A key element of the proposed Digitalization Directive II is the introduction of an EU Company Certificate (“EU Company Certificate”). In this article, Dr. Philipp Grenzebach, Dr. Frederic Peine and Annabelle Rau explain the planned EU company certificate and its potential impact on cross-border legal transactions within the internal market. (German Article)
